Global economies

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Information about Global economies

Published on February 19, 2014

Author: nikkiwwilkinson


on Ec ie s om lo G al bl an dF nc in a e

INDUSTRY • There are three levels of industry – Primary • Ppl work directly with raw materials – – – – Fishing Farming ( subsistence or commercial) Forestry Mining – Secondary • Ppl take the raw materials and create useful items – Manufacturing – Construction

• Tertiary – Ppl provide a service • • • • • • • Utilities Transportation Communication Financial Government Medical Entertainment

Industrial Revolution • Changed how items were made • Occured in the 1800’s • Introduced a new type of economy

• Hand-made by a few skilled craftsmen • Family business • Start to finish operation • Simple hand tools • High quality product • Limited supply • Made to specifications – wait • Simplier lifestyle • Expensive STUFF is MADE PRE POST • Mass produced by large numbers of semi-skilled • Corporation owned • Limited exposure to full process • Company owned machines and tools • Lesser quality • Lots of choices – walk away with it • Materialistic • Cheaper

• The Industrial Revolution created a unique situation. . . Who gets the money? • The answer to this question are three basic economic systems found around the world . • Capitalism • Socialism • Mixed ( 1989)

Capitalism • Capital means money • The system known as capitalism is also called a free market system • Capitalism is the oldest and most successful system • Characteristics: – Private or corporate ownership – Start up businesses, risk, success or failure, great wealth – Three social classes, rich, middle, poor

Socialism • There are several levels of socialism, the most extreme is communism • The goal of socialism/communism is to make everyone equal • Characteristics: – Government owns and controls industry – Profits go to government and distributed equally – Elimination of work ethic and competition • Socialism/communism is unbiblical because – II Thess 3:10 – I Tim 5:18 Prov 3:27 Prov 6:6

Pure Capitalism United States Mixed Communism North Korea China Vietnam Cambodia Loas Cuba

Pure Capitalism United States Mixed Communism North Korea China Vietnam Cambodia Loas Cuba

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